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Program Aims to Help Families Save for Higher Education Using the Oregon College Savings Plan

Through the Be College Ready program, families will learn how to plan for future post-secondary expenses and elementary students will get fun school supplies.

To Be College Ready today, schools and families not only need to help prepare students for the academic challenges of the 21st Century, but also be knowledgeable about and prepared for the financial realities of achieving higher education. Research has shown that children with $500 saved for college have greater college expectations. They’re three times more likely to enroll in college and four times more likely to graduate.

"We are pleased to have a great partnership with the Oregon College Savings Plan," said Larry Didway, Superintendent, Oregon City School District. "Preparing our students for college and career readiness is what we strive for, and this program aligns with that mission."

Any family with students between the ages of 1-18 can benefit from creating an Oregon College Savings Plan. For families in the district with kindergartners, the Be College Ready Program is providing an initial $25 deposit into these accounts to help jump start early saving.

In addition to the kindergarten incentive program, every family in the district with an elementary school student has a chance to win a $529 deposit by entering the online sweepstakes. There will be one sweepstakes winner per elementary school.

The Oregon College Savings Plan is committed to helping families prepare for a post-secondary education, and the Be College Ready program is a great partnership to get families with elementary students thinking about and planning for college early.

“When children know early on that their families and communities believe they can go to college, they’re more likely to do so,” said Michael Parker, executive director of the Oregon College Savings Plan. “By showing families how they can save for higher education, we’re creating a culture that tells children, ‘We believe in you. Let us help.’”

The Oregon College Savings Plan allows families to invest money for college expenses in tax-free savings account. There is a state tax deduction for $4,620 for joint tax filers and $2,310 for single filers this year. The money invested can be used for tuition, room and board, books and other education-related expenses. An Oregon College Savings plan can be used at four-year universities, community colleges and vocational, technical and graduate schools.